Shares of Varta AG (ETR:VAR1) reached a new 52-week high on Thursday . The company traded as high as €47.10 ($54.77) and last traded at €46.95 ($54.59), with a volume of 51805 shares traded. The stock had previously closed at €45.45 ($52.85).
A number of analysts recently weighed in on VAR1 shares. Berenberg Bank set a €43.00 ($50.00) target price on shares of Varta and gave the stock a “buy” rating in a research note on Friday, March 29th. Hauck & Aufhaeuser set a €38.00 ($44.19) target price on shares of Varta and gave the stock a “neutral” rating in a research note on Wednesday, May 8th.
The company has a market capitalization of $1.75 billion and a price-to-earnings ratio of 71.14.
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Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries and energy storage solutions worldwide. It operates through two segments, Microbatteries and Power & Energy. The Microbatteries segment offers zinc-air batteries for use in hearing aid devices; lithium-ion battery solutions for wireless headphones, and other wearable applications, as well as for electrical devices, including Bluetooth headsets and medical devices for high blood pressure, blood sugar, and body monitors; and rechargeable battery solutions for server applications, including car keys, alarm systems, or smart meters for industrial and original equipment manufacturers (OEMs).
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